Author Topic: Pension ideas for the full time stocker? (Read 9025 times)

Cider Apple · « **on:** May 28, 2019, 15:56 »

Hi Everyone. Been at this full time now for a while now (video) and trying to figure out pension ideas?
I've been putting a % away into crypto for a couple of years and that is doing OK. Keeping it long term for retirement.
I've been toying with the idea of either a private pension or second buy to let home for a future retirement investment too?

I'm also hoping my portfolio will see me right too as I'm hoping it will bring in $$$ even when I stop producing (if I ever do?)

What are other full timers doing in regards to pensions???

Sean Locke Photography · « **Reply #1 on:** May 28, 2019, 16:53 »

Depends on where you live. SEP-IRA in the US, like any self employed person could do. Also you should be paying into Social Security if you're doing this full time.

Oh, and you can sell your equipment to buy tuna.

Cider Apple · « **Reply #2 on:** May 28, 2019, 17:06 »

UK - I assume National Security is the same as National Insurance (covers NHS and pensions but... this is pittance really). It's also compulsory in the UK.

I'm talking about what people are investing in for when they retire. Stocks? Bonds? Crypto? Housing? or just cash?

I feel it's important and yet not spoken about really?

Also can you see our portfolios still bringing in money in 20 or 30 years time? My best seller is now 8 years old and still brings in a decent amount each year? I find it all fascinating...

charged · « **Reply #3 on:** May 28, 2019, 17:33 »

Watch this video about the compounding effects of long term investment in the stock market.

https://www.youtube.com/watch?v=lU4l-6EJFaE&list=PL_iq_R7Opw8ypcuYLXZOsV8MGFoJqi8_l

As for the future income of stock, at some point users will be able to complete generate all the images they want on demand via software. It is inevitable. A huge demand for stock photos will just vanish. Currently something like half of the photos in an IKEA catalogue are all 3D generated and not real photos, but they look like real photos.

5stock5 · « **Reply #4 on:** May 29, 2019, 03:19 »

Nothing beats image of real objects while this has been established with decade old CGI and other automation options. Same is true for human generated and machine generated music. Generating images and music from computer is still expensive for being production grade. The real stock image is much cheaper.

For pension idea, it has to be mix of several things. First, the stock image portfolio requires 2-3 year of severe hard work inside the studio. If you cross the magic figure of 30,000 images on sale in your portfolio, may be it can replace your main job. The safest investment is in gold. It is timeless and its appreciation is sure thing. Stock market carries highest risk. If you have money, let fund managers manage your portfolio.

ShadySue · « **Reply #5 on:** May 29, 2019, 03:21 »

Why not consult a personal financial advisor? Just make sure they have the appropriate qualifications and registrations.
They will no doubt advise you not to put all your capital into crypto.

Long term? Make sure you have a solid Plan B.

increasingdifficulty · « **Reply #6 on:** May 29, 2019, 05:45 »

Quote from: Cider Apple on May 28, 2019, 17:06

UK - I assume National Security is the same as National Insurance (covers NHS and pensions but... this is pittance really). It's also compulsory in the UK.

I'm talking about what people are investing in for when they retire. Stocks? Bonds? Crypto? Housing? or just cash?

I feel it's important and yet not spoken about really?

Also can you see our portfolios still bringing in money in 20 or 30 years time? My best seller is now 8 years old and still brings in a decent amount each year? I find it all fascinating...

Well, as for pension, just like with any regular job, where I live I have to pay into my pension. No difference.

As for investing, diversify! No one can see the future so I actually do pretty much all of the above. Enough cash or quickly liquidated assets to survive a few years with 0 income. Some other long-term investments. Some high risk investments that, if successful, would mean earning lots of money, and if they fail, not a catastrophe, just a bit sad.

Quote from: Cider Apple on May 28, 2019, 17:06

Also can you see our portfolios still bringing in money in 20 or 30 years time? My best seller is now 8 years old and still brings in a decent amount each year? I find it all fascinating...

Well, if you keep up with the times and are open to new ideas and ways of selling, absolutely. If you stick to the same type of still images only at Shutterstock and Adobe, I wouldn't count on making money for 30 years... But be aware of new opportunities, new technology, what people want to buy, etc. etc., learn simple motion graphics, 360 imagery, whatever else will be popular within the next 30 years.

By the way, what is this "retire"? I don't ever see myself doing just nothing. But I suppose that's because I don't work in a factory, counting the days until retirement - my hobbies are my work. In a way, I'm already retired and have been since my 20s.

Pauws99 · « **Reply #7 on:** May 29, 2019, 08:08 »

Quote from: 08stock08 on May 29, 2019, 03:19

Nothing beats image of real objects while this has been established with decade old CGI and other automation options. Same is true for human generated and machine generated music. Generating images and music from computer is still expensive for being production grade. The real stock image is much cheaper.

For pension idea, it has to be mix of several things. First, the stock image portfolio requires 2-3 year of severe hard work inside the studio. If you cross the magic figure of 30,000 images on sale in your portfolio, may be it can replace your main job. The safest investment is in gold. It is timeless and its appreciation is sure thing. Stock market carries highest risk. If you have money, let fund managers manage your portfolio.

If you are looking at a retirement of say 20 years I doubt say even in 10 computer generated image/music will still be expensive. Theres nothing certain about gold and the stock market over time provides high returns and with a diverse portfolio is not especially high risk. Most Funds will consist mainly of property and share investments.

Pauws99 · « **Reply #8 on:** May 29, 2019, 08:16 »

Quote from: Cider Apple on May 28, 2019, 17:06

UK - I assume National Security is the same as National Insurance (covers NHS and pensions but... this is pittance really). It's also compulsory in the UK.

I'm talking about what people are investing in for when they retire. Stocks? Bonds? Crypto? Housing? or just cash?

I feel it's important and yet not spoken about really?

Also can you see our portfolios still bringing in money in 20 or 30 years time? My best seller is now 8 years old and still brings in a decent amount each year? I find it all fascinating...

In the UK the Tax implications of what you choose are very significant and complex so its probably well worth talking to a financial adviser. Whilst crypto may come good. I think I would want to make sure my basic needs income could be met by less risky options.

Uncle Pete · « **Reply #9 on:** May 29, 2019, 09:35 »

Quote from: Pauws99 on May 29, 2019, 08:16

Quote from: Cider Apple on May 28, 2019, 17:06
UK - I assume National Security is the same as National Insurance (covers NHS and pensions but... this is pittance really). It's also compulsory in the UK.

I'm talking about what people are investing in for when they retire. Stocks? Bonds? Crypto? Housing? or just cash?

I feel it's important and yet not spoken about really?

Also can you see our portfolios still bringing in money in 20 or 30 years time? My best seller is now 8 years old and still brings in a decent amount each year? I find it all fascinating...
In the UK the Tax implications of what you choose are very significant and complex so its probably well worth talking to a financial adviser. Whilst crypto may come good. I think I would want to make sure my basic needs income could be met by less risky options.

Yes to all and I'd say a tip would be,"don't invest heavily in crypto", go conventional, where you make interest. Otherwise you might as well be buying all stocks, and risking the investment on betting on the future.

What I mean is, 1) Bonds, Growth Funds, Mutual Funds. 2) IRA, CD, bank. 3) Dividend Stocks with a re-investment plan, instead of taking cash dividends. 4) Precious Metals, which is about the same as Crypto, mostly driven by demand.

25% of your investments each year, into each of these. You now have long term, growth, conservative investments and high risk. Set an amount you can make do "without" invest that every month, all the time. Force yourself. Say 10%, and in 20 years you will have such a bug reward you won't believe how it grew and compounded.

The point is, don't do all of anything, spread your investments into the future, with low to high. It's a way to insure you won't lose everything if one sector fails.

tätarätä · « **Reply #10 on:** May 29, 2019, 10:41 »

Quote from: Cider Apple on May 28, 2019, 15:56

Hi Everyone. Been at this full time now for a while now (video) and trying to figure out pension ideas?
I've been putting a % away into crypto for a couple of years and that is doing OK. Keeping it long term for retirement.
I've been toying with the idea of either a private pension or second buy to let home for a future retirement investment too?

I'm also hoping my portfolio will see me right too as I'm hoping it will bring in $$$ even when I stop producing (if I ever do?)

What are other full timers doing in regards to pensions???

In long term nothing works. I guess we will see ab big financial crisis next years, maybe this year.
The economy would not recover after another financial crisis, like 2008. So we will see a collapse of the finance system and then an XXXXL economic crisis starting in the next 10 years.
It doesn't matter what you have and how much you have, everything will be lost.

georgep7 · « **Reply #11 on:** May 30, 2019, 03:02 »

Another perspective is that music industry died after napster appearance (guess the analogy is sites offering images, video vectors for "free") and there was an actual turn in mainstream music with computer generated music (name a famous (new) human executed guitar riffle of this generation) that lead to devaluation and setting aside many " contributors" as band members, etc and reducing actual production time and costs.

Just a thought as long as it is impressive what today's 3D artists from professionals to " amateurs" produce in visual. Sorry for the offtopic

Quote

Nothing beats image of real objects while this has been established with decade old CGI and other automation options. Same is true for human generated and machine generated music. Generating images and music from computer is still expensive for being production grade. The real stock image is much cheaper.

Justanotherphotographer · « **Reply #12 on:** May 30, 2019, 08:48 »

Quote from: Cider Apple on May 28, 2019, 17:06

UK - I assume National Security is the same as National Insurance (covers NHS and pensions but... this is pittance really). It's also compulsory in the UK.

I'm talking about what people are investing in for when they retire. Stocks? Bonds? Crypto? Housing? or just cash?

I feel it's important and yet not spoken about really?

Also can you see our portfolios still bringing in money in 20 or 30 years time? My best seller is now 8 years old and still brings in a decent amount each year? I find it all fascinating...

I use NEST as it's the pension provider the Government recommends for self employed people in the UK (so probably more chance of a bailout if the worst happens).

I also invest in the stock market via Vanguard trackers in an ISA and have a LISA too.

I have a tiny amount in crypto and would absolutely not recommend relying on it. If you can't afford to lose it don't touch it.

increasingdifficulty · « **Reply #13 on:** May 30, 2019, 09:46 »

Quote from: georgep7 on May 30, 2019, 03:02

Another perspective is that music industry died after napster appearance

There's plenty of money in music, I know because I get a nice chunk of it every month, and I am almost completely unknown, just making music at home. No touring, no t-shirt sales.

There are more opportunities today than ever before, you just have to be creative and look for them. Be open to anything, and care about the business side as much as the music itself.

Quote from: georgep7 on May 30, 2019, 03:02

and there was an actual turn in mainstream music with computer generated music

There's a BIG difference between making music with computers and "computer generated music" (as in AI). I come from a rock/metal background and play several instruments, and I find it much harder to make good electronic music, but it's fun and very rewarding when it all comes together.

Quote from: georgep7 on May 30, 2019, 03:02

(name a famous (new) human executed guitar riffle of this generation)

Well, there are quite a few, but the main change is the change of what popular music is. Van Halen riffs (as much as I love them) died out long before Napster.

Young people constantly want new music, something that sounds different from what their parents listen to. That drives constant change, which is a great thing!

Quote from: georgep7 on May 30, 2019, 03:02

...etc and reducing actual production time and costs.

Reduced production cost (don't know about time necessarily...) is a great thing, don't you think? Today, it is available to so many people, unlike in the 80s/90s and before that, where you had to have contacts to even dream of recording anything professional.

I think the music climate is great today.

georgep7 · « **Reply #14 on:** May 30, 2019, 11:32 »

+1 on everything! except that I suddently feel too old now! XD

Quote

Young people constantly want new music, something that sounds different from what their parents listen to

cascoly · « **Reply #15 on:** May 30, 2019, 12:30 »

Quote from: 08stock08 on May 29, 2019, 03:19

…. The safest investment is in gold. It is timeless and its appreciation is sure thing. Stock market carries highest risk.....

goldbugs are wrong: https://www.macrotrends.net/1333/historical-gold-prices-100-year-charthttps://www.macrotrends.net/1333/historical-gold-prices-100-year-chart

a better investment is s&p 500 index
https://www.macrotrends.net/2324/sp-500-historical-chart-data
but you still have to be able to ride out the downturns

I 'retired' from my primary business about 10 years ago

I used to play the stock market, then moved to all mutual funds, now moving all those funds into S&P500 index

at same time I invested in a fixed term annuity that insures against losses and provides addtl income after 10 yrs

pancaketom · « **Reply #16 on:** May 31, 2019, 20:04 »

My main strategy for "retirement" is learning to live cheaply. When I finished grad school I didn't really change my lifestyle when I got a real job except I bought and lived in a duplex and rented the other side out and rented both sides out when I moved for work. Then I lost my job and lived in my truck for 14 years (lots of opportunity for cheap living there). That is when I started microstock. I wish I had taken it more seriously in the early years when new uploads and hard work actually produced a noticeable return, but I was mostly having fun. Then I bought an old church with the money I had saved from working back in the day plus rental income and spent a year fixing it up into my current home. As long as health care costs don't go through the roof for me, I figure I can keep on keeping on until I die. I have some old Roth IRAs from when I was working and in a general year spend less than I make. The cost of doing without is the same everywhere - but I am rich in experience and free time and manage to do most of what I really want to do. My life is much much better than when I was working full time although I am not as fiscally solid as I was then. I live in a paid off house in a place I love and am in essence retired already.

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Author Topic: Pension ideas for the full time stocker? (Read 9025 times)

Cider Apple

Sean Locke Photography

Cider Apple

charged

5stock5

ShadySue

increasingdifficulty

Pauws99

Pauws99

Uncle Pete

tätarätä

georgep7

Justanotherphotographer

increasingdifficulty

georgep7

cascoly

pancaketom

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